Price: $225,000
Location: Bergen County, New Jersey
Industry: Bar
Listing ID: BAR855
Owner financing, Highly successful Bergen County tavern restaurant which includes a valuable consumption liquor license and live entertainment. This restaurant has recently been fully upgraded which includes new kitchen and rest rooms. The business projects a yearly gross income of $600,000 and a substantial net income to the owner operator. The interior has a warm, rustic, welcoming atmosphere and outside dining is offered with a fully covered Patio & Porch, ensuring no weather issues. A family-friendly atmosphere for lunch and dinner, evolving into a lively late dinner scene with cocktails, deep wine list, and a rotating beer tap system. This tavern serves hearty American and Italian classics, including beautiful wood-fired pizzas. The business is a local family owned & operated. This is a dependable safe business opportunity and based on the asking price, this business expects to supply a consistent return on investment to the owner operator.
Listing Details
Revenue: $438,000
Cash Flow: $55,000
FFE: $165,000 (Included in Price)
Inventory: $1,500 (Included in Price)
Reason For Sale:
The purpose of this business transaction is due to the owner retirement from this industry and involved in an alternative noncompetitive industry.
Training & Support:
Training and owner support, the owner is fully prepared to remain post-closing and will supply an appropriate transitional period to purchaser.
Operation
Year Established: 2019
Days & Hours of Operation: Days Hours of operation; this business is active Six days per week, closed Monday with hours from 11:30 am to 2:00 am.
Owner Hours Per Week: absentee
Employees: Regarding employees and payroll; the restaurant has a full staff of nine employees consisting of kitchen workers and outside servers, who are unaware of the pending sale. The payroll is primarily based on an hourly basis, and the staff is fully expected to remain post-closing, the monthly payroll expense is approximately $16,000.
Absentee Owner?: Yes
Location
Security on Lease: Two Months
Lease Option: Yes additional options.
Monthly Rent: 4500
Type of Location: Commercial Avenue
Square Footage: 1,850
Relocatable?: Yes
Facilities Information:
This business opportunity is in northern New Jersey, Bergen County on a highly active county road near to various state highways. This facility consists of approximately 1,850 square feet with an ultra-modern, attractive, and professional appearance. The business has a capacity of approximately one hundred clients and has a large exterior tent which offers outside seating and consist of a free-standing facility conveniently located for its various customers.
Summary
Owner Qualifications:
For Qualifications purposes; this business opportunity requires New Jersey state government license approval to purchase due to the consumption liquor license, however the business presently has all other required municipal licenses.
Competition:
Regarding competition, to the best of our knowledge, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.
Potential Growth:
Regarding growth and expansion, the retail company can be further developed by increasing the days of operation, improving the marketing and local advertising. Additionally, the company has a limited non-optimized web site and if adjusted can further develop the business yearly gross sales.
Financing/Terms:
SBA bank financing is available for this transaction and seller financing may be available to a qualified buyer with an appropriate down payment, collateral, and credit rating.
